Payza Bangladesh has introduced quite simple yet powerful services under the feature of instantly send money to your loved ones with the least charges existing on the planet for such services. This also breaks the myth of digital divide through technological advancements.
‘SimplySendBD’ where you can

Role of Mobiles

The recent onset of mobile devices usage among all the strata of the society including Bangladeshis has raised the hopes of some feasible solutions using the mobile network. Except smartphones, most of the mobiles are affordable and easy to use for the low-literate Bangladeshis. Initially, it was considered as the dividing technologies for poor and rich. Unfortunately, reverse became true and mobile have filled up the gaps.

Today M-Banking is gaining ground in third world country and easy access to The Internet through mobile devices have created a place for big payment gateways to enter in these low-strata population of society easily. Just as the Indian government has done in Andhra state, Bangladesh is going to implement its G2P payment system using the modern tools and technologies including mobiles and G3 connectivity.

Cost-Effective Sending Money Options

Fortunately, some entrepreneurs have initiated wise and advanced steps towards this direction and Payza Bangladesh is a front-runner. Payza has made sending and receiving money cheaper and quick through SimplySendBD because you don’t need to spend more than 2% or $10 even if you want to send $2K. Apart from cost-effectiveness, easy topping options, and quick delivery through various modes including cash pickup and home delivery. In due course, Payza Bangladesh has established 5K retail locations across the country.

Inexpensive and convenient remittance options have made receiving of huge aids like $1.4 billion from developed countries quite easily and affordable. This is a significant improvement in alleviating poverty program. Besides foreign aids, migrant Bangladeshis send approx $11.65 billion money to their home country in one year.

These SimplySendBD and e-wallet like features/schemes of Payza Bangladesh are one of the welcome steps towards empowering this emerging economy. Thus, Payza Bangladesh has created a conductive environment for the e-commerce in Bangladesh where anyone can pay, send, and receive money at the comfort of their home and within the shortest laps of time.

Online shopping can only flourish in the presence of solid supporting frameworks and adaptability of the people. In Bangladesh, infrastructure development for e-commerce had slow pace in the past, but recent moves by the government and awareness of people have made rapid changes. New generation entrepreneurs have fueled the changes by introducing various e-payment mechanisms with desired security and robust experiences. Let’s go through the past and recent developments.

Today the reach of Internet seems rapid due to proliferated use of handheld and wearable devices. Smartphones and tablets have made Internet ubiquitous and accessible round the clock from anywhere. Therefore, various commercial activities taking place on the handheld devices and the most beneficial segment is e-commerce.

Unfortunately, the fruits of these tech advancements are not dispersed equally in the rest of the world. Bangladesh is one of the countries, which lagged behind in the tech race, due to its adverse political and social situations. Telecommunication and Internet technologies are backbones of e-commerce development in any country and Bangladesh have slow pace of development in this regard. Therefore, Internet access is uneven and limited to specific regions as well as up to specific segments of society.

Deficiencies of Infrastructure

There are visible deficiencies of infrastructural support framework in forms of :

Poor electricity network resulting in poor supply

Low affordability of online shopping components such as Internet affordability, computing devices’ affordability, and handheld devices affordability have restricted its reach up to affluent class of the society

Low literacy level also affecting the usage of Internet and acceptability of online shopping in Bangladesh

Online Purchase Framework

It is true that the proliferation of online shopping and online money transaction activities greatly depending on the online purchase framework and the ultimate components of this framework are:

Purchase Intentions

Purchase Adaptation

Purchase Continuance

These purchase related factors have direct relationships with the behavior and several characteristics such as:

If you closely look at these characteristics, you will find that many of them are at backward conditions or lacking at all and its reasons are obvious:

Poor national level public key infrastructure

Distrust regarding secure e-transactions whether in local or international currencies

Social and technical challenges

Lack of legal framework to support

Recent Progress in Bangladesh
Fortunately, in recent past, government and many entrepreneurs within Bangladesh or from foreign countries who have taken deeper interest in the development of online shopping framework in Bangladesh, By being Bangladeshi (citizens/origins) these entrepreneurs have brought some progressive changes by influencing government policies, investing in e-commerce and allied sectors, and changing the mindset of people by-and-large.

For instance, medium characteristics and merchant or intermediary characteristics as mentioned above are contextual and you can see some through changes. Today software developer community of Bangladesh is competing with its neighboring rivals like India and Pakistan at outsourcing fronts. Thus, they are indirectly improving the quality of above-mentioned components of supporting framework for e-commerce development. Same way trusted payment gateway providers are helping not only national level e-transactions, but also improving the user experiences of Foreign exchanges coming from various sources.

If political stability persists and the tendency of people improving regarding online shopping in Bangladesh, days are not far away that shine the overall economy of Bangladesh and lifestyle of the people.

When web developers create e-commerce for Bangladesh, selection of payment gateway is always challenging due to the unique scenario of e-commerce in Bangladesh. Recent moves of Payza Bangladesh have offered it an edge over other rivals even at the local level for various modes of payment.

Generally, e-commerce web developers and e-commerce mobile app developers either are integrating payment gateways with what their competitors in that e-commerce niche have done or simply ask the client if it is a B2B project. Very few e-commerce developers have the inclination to go through the extensive search process and find out the actual needs of targeted audience.

These are common expectations from any standard payment gateways solution for any quality e-commerce storefront. However, deviations and additions are taking place when regional, cultural, social, and economic factors involve in the decision of payment gateways integration of the eCommerce stores.

For instance, PayPal is considered as number one global payment gateway solution across the globe, but its higher fees, over sensitivity for extra sale or loads, and excessive paperwork in many instances are hindering factors for many regions of the world, particularly developing and locally protective policies implementing countries.

No doubt, Bangladesh is one of them and has unique, but valid expectations from any payment gateway operation for its citizens and within the legal territory of the country. If we check features and functionality of a payment gateway suitable for Bangladeshi online shoppers or e-transactions, we can realize these facts obviously.

Unique Needs of Payment Gateways for Bangladesh

Affordable Fees:
As we know, the Bangladeshi currency Taka is very weak against the dollar in the international market and compared to neighboring countries like India. Thus, if any payment gateway counts its sign up, transaction, and other fees in dollar or Pound like strong currencies, it proves non-viable and non-feasible for such poor country or its citizens.

It is good if sign up fees incurred for a large volume of transaction seekers and same for transaction fees when a large volume of transactions taking place by big business houses or international players working from foreign countries. Thus, affordability is a prime issue for lower to mid level of users in Bangladesh when the selection of payment gateway is in question. Fortunately, Payza Bangladesh is the cheapest payment gateways valid and available in Bangladesh without compromising the quality of services despite such competitive fee structure.

Ease and Convenience:
Payza is highly customized payment gateway solution for Bangladesh because it supports numerous currencies around the world and has presence in more than 190 countries of the world where possibilities of Bangladesh based business transactions or presence of NRB from Bangladesh are high.

The algorithm, user interface, and user experiences crafted on Payza Bangladesh is the most befitting solution for the Bangladeshis. In fact, Payza had run thorough research of Bangladeshi culture, behavior, and preferences prior to developed and unveiled Payza solutions so it can address exact needs of Bangladeshi online shoppers and other Internet communities.

Moreover, Payza Bangladesh has collaborated with leading banks of Bangladesh to execute OPGSP payment and BEFTN like services to meet local needs of online shopping community as well as locals to topple or withdraw money easily and in comprehensive ways. Therefore, Payza allows credit and debit cards, mobile, on service desk of banks and other multiple methods for its users to accomplish their tasks or needs easily, securely, and rapidly.

Trustworthy:
Payza obeys local rules of the country and supports the law and its requirement by providing essential info to the government bodies on valid reasons or hiding the sensitive info of its users to protect their privacy. Thus, it has won hearts of all Bangladeshi folk within a short span.

Despite tons of hurdles in the way of overall growth of the country, Bangladesh is encompassing a wider range of technologies and e-commerce growth is its evidence. Bangladesh is stepping into the arena of e-commerce slowly, but surely and steadily. It is the e-commerce performance for B2C category, which seems much promising and needs focus. Let’s check what it actually needs.

Bangladesh is considered as an under privilege country with high-density population, high rate of illiteracy, high poverty rate, and scanty infrastructure to adopt advanced technologies that most of the countries in the world enjoy. Despite such hindrance, today country has 7 million Internet users with more than 200 ISP and 100 million mobile Internet users. Nearly one million internet users enjoy the internet and mobile banking services subscriptions and contributing nearly 100 core transactions each month.

Factors Favoring Online Shopping Trends
This big volume of Internet users have boosted the growth of e-commerce in unprecedented volume and more than 2500 online shops or say e-storefronts are operating in Bangladesh. Each prosperous brick-and-mortar store is enjoying an online identity offering online shopping or e-transaction facilities for online shoppers. No doubt, the growth of Internet is not the one-day or one-year miracle, but the consistent efforts of government, international trade and other organization, the contribution of world banks and finance institutions, and finally, the contribution of Bangladeshi entrepreneurs residing outside the country.

Initiatives Made to Sustain Online Shopping Growth
The government had made a target of “Digital Bangladesh in 2012” and provided all sorts of legal, financial, and infrastructural support to boost the online shopping infrastructure and intentions among the citizens through various nodal agencies. Banks in Bangladesh have formed a common platform to ease the lives of Internet shoppers and money transactions needy Bangladeshis within and outside the country. The recent collaboration of banks with Payza Bangladesh like payment gateway service providers are giving solid evidence of the good intentions of the country and its people to keep pace with time and modernize the society by-and-large.

If we look at the recent development, we can realize that Bangladesh is stepping into the arena of e-commerce growth with solid infrastructure.

Licenses issued to the maximum WiMAX services

Licenses issued to the VoIP operators by BRTC

Some additional IIG licenses issued by BRTC

Permission for upgrade network to TD-LTE for Banglalion and Augere

Besides these, recent onslaught of mobility has solved many problems indirectly like affordability of computing devices and spreading wired network because mobile devices are a cheaper alternative against standalone desktops or laptops with limited mobility. The advent of 3G/4G technologies has solved connectivity issues at greater extents. The introduction of Payza like payment gateway provider in Bangladesh has eliminated the needs of bureaucrats in money transactions or remittance for Bangladeshis sending or receiving money from and to the country.

Nature of Online Shops in Bangladesh
Besides government services, ticket bookings for rail, air, or land transports are the optimum usage of e-commerce or e-transactions. Various industries including garments, hospitality, travels, job market, outsourcing, groceries, retails, and many essential commodity businesses are witnessing a big surge through their online shopping opportunity services. In due course, the following e-commerce or say online shopping websites are witnessing high revenue turnover.

Bikroy

Akhoni

Cellbazaar

ClickBD

BDjobs

Rokomari

And many others

If we closely examine, the majority of online shopping services were C2C nature in recent past, but now B2C types of online shopping are becoming trendy. Reasons are obvious as a payment system for online shoppers is becoming more secure and safe against other delivery and collection methods in past traditions. Today any citizen can use her bank account to topple money in Payza Bangladesh account and easily as well as quickly make online payments with the cheapest rates in the world.

Thus, Bangladesh is becoming a paradise for online shoppers gradually and heading towards a bright as well as promising future.

With formation of National Payment Switch (NPS) before a year or two, banks and Payza Bangladesh have taken right steps towards the payment gateway solutions for export and outsourcing industries of Bangladesh.

Moreover, Payza Bangladesh has served online businesses looking for bespoken payment solutions in the Bangladeshi environment in beautiful and cost-effective ways.

Before a year or two, banks in Bangladesh had unveiled National Payment Switch (NPS) platform in order to bring debit and credit card payments in mainstream and merge other payment options in a single route. Thus, Bangladeshi users can topple their bank accounts, M-Commerce accounts, etc. through multiple ways.

Similarly, citizens in Bangladesh can withdraw same money using their debit or credit cards in ATM or can pay money online against the option of Internet transfer or say e-transfer for online shopping payment in Bangladesh as well as anywhere across the world with valid permissions/accounts.

Ultimate Benefits
Under NPS network, transaction cost would be negligible against the charges incurred by Visa, Amex, or Master card networks. This is the most wanted demand of relatively poor Bangladeshis since long. For them NPS are a blessing where they are secure, law abided, yet the cheapest at transaction fees, incurred by national and international rival services.

In the beginning only three banks, Dutch-Bangla, Pubali and Southeast Bank, were participated. However, as soon as Payza Bangladesh has declared its role in this network, other banks rushed and joined network to expand the reach. The ultimate benefits of NPS to government are easy access of funds, increase in tax revenue through transparency, and increased money flow in Bangladeshi economy.

Role of Payza Bangladesh

Payza is loaded with outstanding ‘payment gateway solution’ tools such as

Currency exchange

Fraud screening

Dispute resolutions

Global payouts

Disbursements

E-wallet

Virtual terminal

Recurring billing

eCheck processing

At one hand, toppling the money through physical ways is quite easy, as you need to open online account and deposit money through bank desks in your nearby valid banks. You will have instant access of money without passing through daunting bank account opening procedure even in any unknown territory of Bangladesh.

At other hand, you can use these deposited money for any purpose of payment using M-Commerce, e-commerce, or S-commerce routes. In the same way, you can receive payment in foreign currency from foreign countries with the least charges offered by open market and in quick as well as secure ways.

Therefore, such excellent services of Payza Bangladesh have added fuel in the growth of outsourcing industry flourishing in Bangladesh and export house exploring unknown regions and market across the world.

Moreover, Payza has collaborated with the most of the leading banks of Bangladesh like Bank Asia to execute OPGSP payment and used Bangladesh Electronic Funds Transfer Network (BEFTN) facilities organized by the Bangladesh Bank- sectors in order to ease the lives of numerous freelancers and IT outsourcing companies to work with any client coming from any country of the world. As Payza has made possible to accept payments in any currency, as it offers the wide range of currency support and has presence in more than 190 countries of the planet Earth.

The popularity of online shopping in Bangladesh is growing day-by-day blessed by mobiles and various incentives offered by e-commerce industry. However, online shopping is neither risk free nor cheaper, if you don’t know how to play smartly. Let’s check the smartest ways to do so.

Internet shopping in Bangladesh is getting immense popularity among all the creeds and classes of Bangladeshis. Thanks to increased penetration of cheaper Internet and flourishing mobile with ease of Internet through 3G/4G connectivity, Bangladeshis are enjoying Internet shopping with awesome features and facilities. Modern generation of Bangladeshis is enjoying online shopping without putting any step outside their home or office confinement, even they can shop while they are driving or commuting in public transport in odd hours.

Internet Shopping Craze in Bangladesh
They can place order with cash on delivery or home delivery without taking any risk of online payment as well as they can pay securely through Payza Bangladesh like safe and secure payment gateway. After observing online shopping craze in Bangladesh many entrepreneurs have jumped into the bandwagon and established their online identity with such secure payment methods and payment gateway integrations, even brick stores have created brick-to-click storefront for Internet shoppers in Bangladesh.

Internet Shopping Security
However, not all players are fair and there are frauds, spam websites, hackers, malicious elements, etc. unwanted activities reporting with same intensity on the web-o-sphere of Bangladesh. Therefore, it is mandatory to take enough precautionary steps while doing Internet shopping in Bangladesh taking smart way of e-shopping

Shop from Secure Online Storefronts Only
It is true that on Internet not all e-commerce storefronts or websites are reliable and offer secure shopping experiences. Therefore, you need to check some essential characteristics of Internet shopping websites prior to inserting any vital info from your side and those precautionary steps involve:

Reading the privacy policies thoroughly:
Yes, the majority of e-commerce websites are offering comprehensive and legitimate privacy policy. They do so in order to protect your financial and personal information, which you enter during checkout process to do your payment. If you find any loophole or discrepancy, do not shop with them.

Read Reviews of Storefronts:
Today we have social media like Facebook and other social networking sites where we can exchange our opinions and experiences with brands and such online shopping websites. Therefore, avail these facilities in your favor and simply read reviews or place your thoughts of shopping on certain e-commerce sites, you will have tons of advices or insights regarding their reliability, services, and security like experiences of others. The best way is to open their Facebook page and check the customers of brands that have placed their reviews and ratings.
Bangladeshis are fond of social media and eager to express them on it so take advantage of their mentality and extract the truth about the website on which you are going to do Internet shopping for big order or to be a loyal customer forever.

Right Selection of Payment Method and Payment Gateway:
Fortunately, in modern Bangladesh, government, banks, and many Payza Bangladesh like entrepreneurs have made solid effort to make online payment highly safe, secure, and affordable for Bangladesh like underprivileged country. Thus, you need to check, which payment method involves the safest payment option and which payment gateway is involved with it.

Online shopping in Bangladesh has outstanding challenges in terms of payment and delivery because in numerous cases both are mingled with each other, as payment takes place once delivery is finished in form of home delivery of goods. Unfortunately, recent market is expanding in terms of goods available and home delivery can’t associate with payment in all cases.

Internet has changed the scenario of people’s lifestyle and way of business doing in the country. Despite the crinkling infrastructure for transport, electricity, and wired Internet network, online activities are flourishing at rapid pace and seem to be parallel to its affluent western counterparts.

Online Shopping Status in Bangladesh
Numerous online shops are working solely on the internet while majority of brick stores enjoy status of click-to-brick shop in modern Bangladeshi society where each home has one person living abroad. Mobiles have made internet ubiquitous. Therefore, people are free to place their selling needs on auction sites, whilst buyers have freedom to purchase products from anywhere and at their convenient time.

Online Shopping Behavior of Bangladeshis
However, the nature of Bangladeshis is a bit conservative and people generally don’t put trust on other especially in payment made on internet where receivers are unknown and lots of frauds or scams have been registered before. Moreover, traffic issues are acute in major cities of Bangladesh where a big chunk of online shoppers is residing.

Cash On Delivery Model
Therefore, expecting of buying and picking up the goods are rare thing in practice here. Bangladeshi folks love to deal in face-to-face mode so cash on delivery is highly popular mode of payment in cities as well as in rural areas in particular. There are two benefits of cash on delivery that buyers and sellers both are secure for the payment as well as right delivery at their respective ends while buyers can promptly inform vendors for any sort of fraud or swindle carried out by middle men or any damage occurred during shipment.

Unfortunately, all goods are not possible to ship through this payment method and collect cash, only food items ready to serve, groceries, furniture, and so on items of day-to-day use fall in cash on delivery payment mode. Valuable items are generally purchased either through personal visits or through secure payment gateways in advance payment mode only.

Promise of Secure Payment
Fortunately, Bangladesh payment gateway services like Payza Bangladesh have quite safe and secure online payment method through internet as well via credit/debit cards with bargaining service charges. Even secure e-transactions are possible in rural areas where connectivity and financial infrastructure are issues all times.

Payza Bangladesh has changed the scenario of online shopping in Bangladesh through various payment gateway related schemes unveiled in collaboration with major banks of Bangladesh and government itself. People now no longer need cash on delivery like long and risky routes of online shopping in Bangladesh thanks to Payza Bangladesh and banking network to introduce trust factors among the most privileged people of Asian region.

If you have any questions or comments, we invite you to share them with us by leaving a comment below or joining us on our Payza Facebook and Payza Twitter pages.